So hey, we need some hacker assistance on this.
Shikigami 1 is proving a tough nut to crack.
If you want to help us out, email me at 
cjiwakurax@aol.com or hit me up on AIM: cjiwakurax.
Thanks a bunch.
Here's a sample of what we're up against here:
      00000000                    ???                                     EAX=00000000, ECX=00000000, EDX=00000000, EBX=00000000, ESP=00000000, EBP=00000000, ESI=00000000, EDI=00000000
main  00423D96                    MOV AX,WORD PTR DS:[ECX]                EAX=00000000, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000002, EDI=00000000
main  00423D99                    AND EAX,0000FFFF                        EAX=000000AA, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000002, EDI=00000000
main  00423D9E                    CMP ESI,EAX                             EAX=000000AA, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000002, EDI=00000000
main  00423DA0                    JL SHORT 00423DBD                       EAX=000000AA, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000002, EDI=00000000
main  00423DBD                    MOV EAX,DWORD PTR DS:[ESI*4+ECX+4]      EAX=000000AA, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000002, EDI=00000000
main  00423DC1                    ADD EAX,ECX                             EAX=00001BF8, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000002, EDI=00000000
main  00423DC3                    POP ESI                                 EAX=0082D590, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000002, EDI=00000000
main  00423DC4                    RETN                                    EAX=0082D590, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE58, EBP=00727208, ESI=00000000, EDI=00000000
main  00462100                    PUSH EAX                                EAX=0082D590, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE5C, EBP=00727208, ESI=00000000, EDI=00000000
main  00462101                    CALL 0042DD40                           EAX=0082D590, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE58, EBP=00727208, ESI=00000000, EDI=00000000
main  0042DD40                    PUSH EBX                                EAX=0082D590, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE54, EBP=00727208, ESI=00000000, EDI=00000000
main  0042DD41                    PUSH EBP                                EAX=0082D590, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE50, EBP=00727208, ESI=00000000, EDI=00000000
main  0042DD42                    MOV EBP,DWORD PTR SS:[ARG.1]            EAX=0082D590, ECX=0082B998, EDX=000000D0, EBX=00000000, ESP=000CFE4C, EBP=00727208, ESI=00000000, EDI=00000000
January 08, 2010, 10:09:15 pm - (Auto Merged - Double Posts are not allowed before 7 days.)
Update:
I did look for SJIS strings but no luck. I haven't tried unicode (I always forget about it since I've only reversed one game that used unicode).
I should say the code isn't the problem as I can read it fine enough to know mostly what's happening. My problem is the graphics themselves since I'm not very good at figuring out graphic formats and such.
The *.dat files are what I suspect holds the text somehow. From what I've seen there a simple archive format (I can describe it if you like) that holds LZSS compressed files. From what I've noticed, the files when uncompressed appear to be some type of image format. My reasoning being how many 0s are in there, as well as the grouping of the bytes (basically a large transparent graphic with something in the middle, like how our text shows up).
I suspect it's *.dat files since those are the ones it keeps accessing right before displaying the text.
One thing I noticed which I found interesting is I found a routine which appears to use those files to index something (maybe a font?) but later on it is accessed by my nvidia driver. I could be mistaken honestly so hey 

 I'm more use to dealing with compressed text of some kind and graphics aren't my thing at all unless there obvious in the format they use. I'm almost certain there TGA files, but i'm not sure how to rebuild the header for it.
Later on I can post up a portion of the uncompressed piece of one of the files. if anyones interested I don't have access to my code on the laptop I'm using right now though.